“This marriage will permit Elite Daily to continue to flourish as a platform for and by Millennials, allowing us to expand internationally, grow our staff and continue to deliver the most relevant and engaging content for Millennials,” Arabov wrote.

The financial terms of the acquisition were not disclosed, but The Wall Street Journal reported that the price was $47 million. Jon Steinberg, Daily Mail’s CEO for North America (and previously president of BuzzFeed), told The Journal, “We want to compete with AOL and Yahoo, and this will help us get to that goal.” (AOL owns TechCrunch.)

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OverviewElite Daily was founded with a commitment to not only deliver content specifically targeted for Generation-Y, but also content shaped by talented media professionals of the same demographic. Elite Daily’s founding team grew tired of traditional media publications mandating that news coverage be presented in a dull, one-dimensional manner and set out to create a highly engaging, socially driven content …

BioJon Steinberg is the founder and CEO of Cheddar, a new video media company sitting at the intersection of business news and culture. He was named to Ad Age’s 2015 40 under 40. He sits on the board of Bustle and is an advisor to TheSkimm and Taboola. He was most recently the Chief Executive Officer of DailyMail.com North America. Steinberg grew U.S. revenue 45% while at Daily Mail and doubled direct …

OverviewDaily Mail is a British daily middle-market tabloid newspaper that features latest news and information in the categories of TV and showbiz, health, science, travel, fashion, and more.
The Mail was originally a broadsheet, but switched to a compact format on May 3, 1971, the 75th anniversary of its founding. On this date it also absorbed the Daily Sketch, which had been published as a tabloid by …

BioDavid Arabov has always been driven by an insatiable entrepreneurial spirit. While studying at Pace University, David started his first business: an online publication that “Millennials can’t get enough of,” as Business Insider once described. Elite Daily has quickly become one of the most popular sites on the web, due to David’s understanding of the void in the marketplace for content specific …